A Master Class in FX Intraday Trading by F & Co

[Forexmospherian]

GU

3 23PM

Unless we go under 5205 and 5200 - I reckon we can scalp buy the GU again

Initially had to stay above 5215/16 - even a fall to 5208 / 10 could still see another turn and try up

Interesting - 3 51 pm low at 5205 and 5207 was a scalp buy for now

we would need over 5215 + to stay with buys - otherwise take what you can

GL - see you later

 

[Forexmospherian]

Scalping the GU after 3 08 pm and present high of Day

]Interesting - 3 51 pm low at 5205 and 5207 was a scalp buy for now[/B]

we would need over 5215 + to stay with buys - otherwise take what you can

GL - see you later

GU

We sold off after an interim top and it dropped approx 30 pips

We scalp buy after 3 51 pm and it rises approx 22 pips

Time rules can be extra clues for the range as well now

We then can sell again on a LH after 4 27 pm and that drops approx 15 pips ( all net figures after spreads )

For now the LiTs area for after London close is around 5200 -5205 and so above there in theory still bullish

Howver - we have had LH's from 5238 and then approx 29/30 - so the test is really up to 30 and below 5205 and 5200.

In that 25 -30 pip range we need to then see a proper b/o either way - not just a tease of 2 -5 pips - that can still be false

Not bothered now as after my normal scalping times - all depends if LiTs holds or whether R levels are now too strong for further rises

GL

Meanwhile hope you might have caught at least 1 of these 3 scalps - if you caught 2 or 3 then brilliant

 

[Oscar Reed]

Time poor.

Swing n Hedge day.

 

[Forexmospherian]

Wednesday 18th November 2015 - Pre Opens

Morning All

Just a quick few points for today

FOMC minutes at 7 00 pm tonight - an important US dollar news release and not much news being released this morning - might mean a slow day.

I hope not - if it is will have to scalp more

Will pop in during this morning and over the course of the day

I am focusing on the EA / EJ / EU / GU as my main morning pairs to trade - but will at times look at the UCad / UChf / AU / UJ for additional clues etc

Please feel free to show your own charts and comments / calls etc on this thread - and never worry if you are right or wrong - its all part of trading

I have worked out my LiTs areas for initial price structure bias - already taken 2 scalps and now planning for the 2 opens

Have a good day

👍


Regards

F

 

[sun11]

Morning F,
EU Lits area : 1.0630 - 1.0648 ?

 

[NVP]

morning all

USD had a decent early Asian but dropped recently but I am waiting to rebuy it now >ondon session

Europeans look like selling ...CAD is due for a selloff

N

http://www.trade2win.com/boards/for...-basic-ideas-strategies-1708.html#post2657954

 

[NVP]

took the ucad bounce just after 7am ...........usd finally coming north

 

[NVP]

took the ucad bounce just after 7am ...........usd finally coming north

frigging GU was better .............but I thought GBP was already a little oversold ............grrrrrrrrr:whistling

 

[Forexmospherian]

Morning F,
EU Lits area : 1.0630 - 1.0648 ?

Approximately - 👍

 

[NVP]

ok gotta prepare for some meetings ...........as I leave :-

SELLS
GBP , AUD CHF - all poor Asian sessions .....GBP is the stinker

BUYS
YEN by miles.......then USD,CAD,EURO

usd just completed its last Bull phase so take profits or reset stops

Cheers
N

 

[NVP]

took the ucad bounce just after 7am ...........usd finally coming north

stalling but in profit 👍.....cheers gang

be careful out there 😎

N

 

[NVP]

Time poor.

Swing n Hedge day.

nice .........real nice dude 👍

 

[sun11]

How i missed this beautiful trade. Taken only 6 pips. Where as it was possible to take 20+ pips.

 

[Forexmospherian]

How i missed this beautiful trade. Taken only 6 pips. Where as it was possible to take 20+ pips.

View attachment 206272

Hi Sun

Started early and had to go out twice ( one trip to the dentists ;-( ) and so missed out on a lot this morning

There as been loads of Intraday trade opportunities this morning- Loads


OK many would be scalps - but still also many short term swing trades from 25 to 40 pips on 5 pairs.

Ideally you need at least 3 + monitors and able to scan 6 to 8 pairs quickly and know the important levels - S & R's and the LiTs area bias ahead of the 2 Opens - and then it gets easier

The GU you mentioned was interesting - worth at least 30+ pips after 9 00 am and still bullish above 5210/12 - will cover in next with charts and explain the set up in more detail - as it was a trick manipulated move - but readable

Hope you are not having too bad a day

Regards


F

 

[Forexmospherian]

GU - I Min LR Chart From Opens to 11 30 am

GU

11 33am

I will cover this pair in depth this morning as it a great example for my method

First the chart and then explanations and next part for the US session to follow

 

[Forexmospherian]

GU

Update at Midday

We topped so far at 5248 and then tried again and made a LH at 44/45 and then over the last 2 hrs its been a sell - with interim Low atm - a higher Low at 5208

We are now all in the support area

For more sells we need under 5200 - 5195 and then 5183 - if we dont make all of them - then we know we are trying back up again.

Last scalp buy is 12 02 pm at 5209/10. We need above 25 to stay with buys and over 30+ mins with no breach of 5208 and 5205

 

[Forexmospherian]

GU

11 33am

I will cover this pair in depth this morning as it a great example for my method

First the chart and then explanations and next part for the US session to follow

GU

12 11 pm


Ok atm we have a 40 pip range approx

ie 5248 to 5205 ish

We know that above 5255 and 60 - we can take more scalp buys

We know under 5200 and 5194 and 83 we can look at more scalp sells

But now what about this 40 pip range ??

So many variables and factors that play a part in next moves - here's some

1. Time and time rules

2. News

3. Profit taking

4, Lunchtime in Europe but soon the start of US sessions

5. Price structure

6. Strength of dollar - strength of Pound

7. Traders stops

8. FOMC minutes later on tonight

9. Other pairs - and better set ups etc

10. Your own trading ability and what pips are you looking for?

11. Clues and edges we have over 90% + of all other FX traders

 

[Forexmospherian]

GU

Update at Midday

We topped so far at 5248 and then tried again and made a LH at 44/45 and then over the last 2 hrs its been a sell - with interim Low atm - a higher Low at 5208

We are now all in the support area

For more sells we need under 5200 - 5195 and then 5183 - if we dont make all of them - then we know we are trying back up again.

Last scalp buy is 12 02 pm at 5209/10. We need above 25 to stay with buys and over 30+ mins with no breach of 5208 and 5205

GU

12 28 pm

OK - scalp buy after 12 02 pm - what did we need to stay with it ?

see above - ie above 25

Were did we stop ?

24/5

So what do you do at 12 20 / 21 at 5220/22 area ?

Yes - scalp sell

next as low held over 30+ mins - ie from 12 01 pm?

Answer - not yet - so will we try under 5208 and 05 ??

Answer - dont Know - but i will know in next 9 - 12 mins

 

[Forexmospherian]

GU

12 36 PM

Scalps - on one after 12 02 - anything over 5 pips is good - it moved up 16 pips - say 14 pips net so 7 to 13 pips from that would be very good

On sell after 12 20/21 pm - so far dropped 13 pips - anything over 5 pips is good - if you have 10+ pips - excellent

So in approx 40 mins

If a good scalper - you have 2 scalps and 10+ pips net

If you are fully focused etc then 2 trades and maybe 15 to 20+ pips

If you only got one scalp - not focused maybe enough #

If you did not get either - but were still covering the GU pair to scalp - question yourself - WHY ??

 

[Forexmospherian]

GU - Scalps at 12 02 pm and 12 20 pm and after 12 33 pm

GU

1 min chart

We have discussed the 2 scalps on GU

Here they are on the GU 1 Min LR Chart and also over 30 = mins with no under 5208 and 5205 so worth a punt on a scalp buy after 12 33 pm above 5210

Under 5208 - i would be exited last scalp buy